logo
Los Angeles icon
icon Los Angeles icon
img
icon icon
Street View
icon icon
28 Photos
icon
icon icon
1048 E 5th Street
USD 2,750,000
Property ID: IV24250595
icon
1048 E 5th Street ,90802
icon --
icon 14871 SqFt
icon Built in 1915
icon USD 185/SqFt
icon 0 Bed
icon 0 Full
icon --
icon --
icon
icon
icon
Location Street View
icon
icon Direction
Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
11338
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1915
See more icon
Detailed Introduction Of This Home
Prime Investment Opportunity: Entitled 11-Unit Development with Existing Cash Flow in Long Beach This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units—bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential. Key Highlights: Turnkey Existing Units: 5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures. Unit Mix (Existing 6 Units): (4) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (1) 2 Bed / 2 Bath Entitled 5 Additional Units: Development-ready plans for modern units: (2) 3 Bed / 2 Bath units with grade-level parking (3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking Financial Performance: Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out. Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost. Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals. Significant Profitability: Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach’s hottest rental markets. Conservatively underwritten profits of $1.2M+ make this an ideal low-risk, high-reward investment. Strategic Investment Benefits: Immediate Cash Flow: Benefit from consistent cash flow during the development process with income from the stabilized 6 existing units. Low-Risk Development Play: Existing units offset holding costs, while entitled plans minimize entitlement risk. High-Demand Location: Situated in Long Beach, a thriving rental market with strong tenant demand and long-term appreciation potential. This property offers the best of both worlds: stable cash flow today and exceptional upside tomorrow. With a clear path to development and substantial projected returns, this is an opportunity that investors and developers alike will not want to miss.
Continue Reading >>
Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Similar houses you may like
7036 Firmament Avenue
7036 Firmament Avenue
icon 7036 Firmament Avenue
24340 SqFt  / 4 Beds  / --
USD 1,100,000
81421 Camino Los Milagros
81421 Camino Los Milagros
icon 81421 Camino Los Milagros
6534 SqFt  / 2 Beds  / 2 Full Bas
USD 489,777
25130 Kalmia Avenue
25130 Kalmia Avenue
icon 25130 Kalmia Avenue
9148 SqFt  / 3 Beds  / 2 Full Bas
USD 569,000
15219 Blythe Street
15219 Blythe Street
icon 15219 Blythe Street
5753 SqFt  / 5 Beds  / 3 Full Bas
USD 949,000
Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
1 of 28
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
album
Photos (28)
icon
icon
banner
1048 E 5th Street
USD 2,750,000 0 Beds
icon Copy link
icon WhatsApp
icon Facebook
icon Twitter
icon
Welcome to House.com
Log in or sign up to get the most out of your experience. This will also help increase your chances of response from agents.
Enter a valid email address.
or
Continue with Google
By submitting, I accept House.com’s   Terms of use
icon icon
Verify Your Email
Hello ,we’ ve just sent the code to your email.please check and enter the code here to continue logging in.
Verification code error
Didn’t receive email? Please check your spam folder